Naira Crashes To N672 Per Dollar At Parallel Market

The value of the naira against the dollar fell to N672 at the parallel market on Thursday.

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Naira Falls To N672 Per Dollar At Parallel Market

On Wednesday, the indigenous currency lost N9 or 1.36 per cent at the market segment to sell for N673/$1 compared with the previous day’s value of N664/$1.

However, it was a different scenario at the Peer-to-Peer (P2P) window, where the currency appreciated against the greenback by 1.3 per cent or N9 to quote at N690/$1 compared with the N699/$1 it was traded a day earlier.

At the interbank segment, the Naira witnessed no movement against the Pound Sterling and the Euro as it remained unchanged at N507.59/£1 and N429.08/€1 respectively,

Meanwhile, the cryptocurrency market finished stronger yesterday, with Ethereum (ETH) gaining 12.2 per cent to trade at $1,885.88 as it is set for an upgrade that’s been billed as one of the most important events in the history of crypto.

has been working to shift to a new for securing the network called proof of stake. Rather than relying on energy-intensive mining, the new method requires users to leverage their existing cache of ether as a means to verify transactions and mint tokens. It uses far less power and is expected to translate into faster transactions.

This good news spread to other coins as Bitcoin (BTC) recorded a 6.3 per cent jump to $24,409.32, with Solana (SOL) rising by 11.7 per cent to sell at $44.16.

Cardano (ADA) grew by 6.7 per cent to trade at $0.5438, Litecoin (LTC) went up by 6.1 per cent to sell at $62.19, Ripple (XRP) rose by 5.4 per cent to close at $0.3823, Dogecoin (DOGE) made a 5.2 per cent gain to end at $0.0719, Binance Coin (BNB) improved by 4.7 per cent to $331.99, while TerraClassicUSD (USTC) added 3.4 per cent to quote at $0.0301, with the Dollar Tether (USDT) trading at $1.00.

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